To some, can be a chain to a life of misery; they are using all they have to clear what they owe. They can’t wait for it to go away. However, given that debt is part of our lives, sometimes it may take longer to clear. Does that mean we have to deny ourselves, put everything else on hold until it is cleared?
Don’t fall in this school of thought, believe that whether we are in debt or not, we have to enjoy life, otherwise we will not be motivated to live and also work hard and clear what we owe. Enjoy your life, be happy and you will find ways through which the debts that have been bogging you down can be cleared.
Student loans are perhaps the first loans in your life, an amount that you will pay off for a long time. Does it mean you have to put everything else on hold just because you need to repay this important loan? Does it mean you have to postpone those holidays because you want to increase the amount repaid every month?
While it may be a good idea to deny yourself some things, it may not be prudent to do it at the expense of happiness. Life needs to be enjoyable, you need to have some moments which make you happy. Have something that you look forward to, have hope. These are the only things that will motivate you to work hard enough and repay the loans comfortably.
We all wish to be debt free, but at what expense? Does it mean we should postpone having a family and wait until we have paid all our student loans or mortgages to have children? While some things can wait, others cannot.
Postponing having a family may allow you to get financially and emotionally stable but, the clock is ticking. If you wait for too long just because you want to pay off your debts and start a family life debt free, it may be too late. You may discover that the wait was too long and that having babies after a certain age is not possible or comes with greater risks.
Some things have to be done at the right time and when postponed, it becomes difficult. Do not wait until you clear your debt to enjoy life. You can do it even as you repay your loans. All you have to do is draw up a plan on how you will repay the debt and still leave an amount that will allow life to continue comfortably.